NORTHERN Grampians Shire Mayor Kevin Erwin has likened the project to putting the man on the moon.
"The in-depth concept can be hard to grasp, but people need to realise this project is Nobel prize quality stuff," he said.
"That's how significant it is. At the start of last century man was trying to leave the surface of the Earth, 60 years on we stepped on the moon and 50 years on we've taken a giant leap in Stawell.
"There is enough money now to complete the operation and a window of opportunity for the Stawell Gold Mine and the machinery they have got to dedicate it to drilling out the cavity."
STAWELL'S global physics research hub has received a state government funding allocation of $5 million.
The lab will provide ultra-low background research facilities needed in the search for dark matter and will be one kilometre underground within the Stawell Gold Mine.
Regional Development Minister Jaclyn Symes announced the funding on Saturday.
She said the lab would put Stawell on the world's particle physics map and would help Victoria attract and retain world class scientists.
"The Stawell Underground Physics Lab will not only position us as a leader in dark matter research, but it will also bring local job opportunities and investment to the region," she said.
"With nearly 80 ongoing jobs connected to the lab, this project will diversify Stawell's economy - attracting a new highly-skilled workforce to the region to live and work."
The federal government has previously provided the remaining funds of $5 million needed to construct the lab.
The project is expected to deliver economic value to the region of $180.2 million in its first ten years and support nearly 80 ongoing jobs.
Almost all the laboratory's construction and fit out will be sourced from Stawell and Western Victoria.
University of Melbourne project leader Professor Elisabetta Barberio said the lab would be world-class.
"This will ensure the lab is large enough to host dark matter experiments as well as everything from fundamental cancer research into how radiation affects cells growing, to creating new ultra-sensitive detectors and novel geological exploration techniques," she said.
The project is a collaboration between six university partners - led by the University of Melbourne.
Swinburne University of Technology, the University of Adelaide, the Australian National University, the Australian Nuclear Science and Technology Organisation and the Italian National Institute for Nuclear Physics are also involved.
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